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The global media monitoring tools industry is being driven by the increased adoption of digital solutions across industries, which is driving the demand for media monitoring tools such as in the retail and E-commerce industry to analyse the consumer preferences. In addition, the media monitoring tools also help organisations to gauge their brand awareness through digital advertising, while also monitoring their competitors in an endeavour to devise strategic business policies. Moreover, the technological breakthroughs such as the integration of artificial intelligence (AI) and machine learning (ML) solutions are projected to aid the market growth. These factors are estimated to positively impact the industry growth in the forecast period.
The growing emphasis of the leading players in the development of diverse media monitoring solutions to help their clients with the development of efficient brand recognition strategies is estimated to significantly catalyse the industry growth in the forecast period. For instance, in September 2020, Semrush Holdings Inc (NYSE: SEMR) announced the launch of its new Sellerly toolkit, which aids Amazon sellers to accentuate their product listing. It provides internal tools such as traffic listing and listing quality checks, among others. Furthermore, in November 2021, Sprinklr Inc. (NYSE: CXM) announced the launch of its new Sprinklr AI studio that enables its consumers to create AI models without the need to write a code. This aims to help automate tasks such as consumer messages categorisation to filter any irrelevant material out in an endeavour to accentuate brand recognition. These developments are expected to positively impact the growth of the media monitoring tools industry in the forecast period.
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The major players in the global media monitoring tools market are Agility PR Solutions LLC, BoomSonar, BurrellesLuce, Buzzcapture B.V., Cision Ltd., Coosto BV, and Critical Mention, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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